Optimism Price Prediction: OP Token Surges 11% as Bulls Target $1.20

This movement marks a potential turning point for the Layer-2 asset, which had previously been under sustained bearish pressure. With OP now trading at $0.65, technical signals suggest the possibility of a sustained breakout if key levels are maintained.

Analyst ZAYK Charts (@ZAYKCharts) has shared a chart highlighting a daily timeframe trendline breakout for OP/USDT. The descending resistance line, active since December 2023, has been tested several times and now appears to be breached, indicating a change in trend structure. Price has climbed decisively toward the breakout zone around $0.65, signaling a possible end to the downtrend.

Source: X

A projected move to $1.20 is mapped from the measured distance between the trendline and recent lows. According to the chart, confirmation of this setup requires OP to close above the trendline with sustained volume. A failure to hold the breakout could expose the token to a retest near the $0.58–$0.60 area. The breakout structure, however, aligns with the strengthening technical signals seen in other timeframes.

Analyst @LTSTrading (USA Signal) has also shared a falling wedge breakout setup that complements ZAYK’s outlook. The wedge pattern, compressing since February 2025, shows diminishing sell-side pressure.

Source: X

The breakout attempt above $0.59 suggests a trend reversal could be underway. This wedge formation carries an upside target of $1.38, referencing historical resistance and prior consolidation levels from early 2024. The invalidation level is placed below $0.49, giving traders a clear risk zone.

Data from BraveNewCoin’s 24-hour chart supports the recent surge, with OP gaining 11.45% from lows near $0.58 to a peak around $0.66. This price move coincided with a notable spike in trading volume, which climbed above $352 million, a level not seen in recent sessions. The strongest volume inflows aligned with OP’s breakout from local resistance, reinforcing the legitimacy of the uptrend.

Source: BraveNewCoin

The asset’s market capitalization now stands at $1.13 billion, supported by a circulating supply of 1.75 billion OP tokens. The uptick in the volume-to-market-cap ratio indicates renewed interest in OP’s Layer-2 capabilities, potentially in response to increased Ethereum scalability discussions. As long as bulls defend the $0.63–$0.65 area, short-term upside toward $0.70 remains possible.

The TradingView daily chart reveals strong technical backing for the upward shift. OP has broken above the upper Bollinger Band, currently at $0.639, while candles continue to form above the 20-day simple moving average. This behavior indicates increasing volatility and growing buying interest. The Bollinger Bands are widening — a technical sign often associated with breakout confirmation.

Source: TradingView

Furthermore, the MACD (12,26) exhibits a positive crossover, as the MACD line surpasses the signal line and the histogram shifts to green at 0.016. This signal appears after a prolonged flat period, suggesting fresh bullish momentum is entering the market. As long as the price remains above the mid-band near $0.559 and volume continues building, OP may be positioned to retest $0.70 and approach mid-term targets near $1.20.